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20121230
20121230
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the fiscal cliff. he said he is moderately optimistic that a deal could be done by december 31. congressional leaders are working on crafting a bill. certainly no grand bargain here that would improve entitlements. if they can't get a deal, the president has told harry reid to put the white house proposals up for an up or down vote. the details just keep on coming out. with us now are two guests. first, we are going to go rich edson. he is here with the very latest. tell us what you made of the president's comments. he was very direct. reporter: he was. d now he passes on to the senate. senate majory leader harry reid, senate minority leader mitch mcconnell. they are trying to come up with something that can pass the house and the senate. the president laid out a proposal earlier this evening. at the beginning of this meeting. $250,000 per year. that income would be shielded from tax increases, and now he wants an extension of unemployment insurance. that is something that essentially a nonstarter in a republican-controlled house. now he is leaving it up to the two leaders in the u.s. senate
in love with progressive's claims service. >>> the deadline to make a deal and avoid the fiscal cliff less than 48 hours away now. the senate and the house convening this afternoon for a rare sunday session with the hopes of reaching a vote possibly tonight. but can they really get a deal done? yesterday i spoke with sheila, the former chairman of the fdic and she's been through some tough negotiatiions before. this is what she had to say about the chances of a deal and what might be included. >> this should have been resolved long ago and i do think, actually, they are going to get a deal, but i think more along the lines down the road. at least at this point that we'll get meaningful deficit reduction, certainly not meaningful tax reform. i do think, though, perhaps a permanent extension of the lower tax rates for those making at least under $500,000. the payroll tax cut on the other hand will go away, i think, is highly unlikely and that is going to impact a lot of workers. i think they will make some decisions this weekend and a good chance that it will pass and become law. that is the
Search Results 0 to 1 of about 2